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​Digital currency card takes the place of 20 credit cards

Bulky wallets stuffed with cash and cards could become a thing of the past, if a new digital currency card called "Plastc" catches on. Plastc uses near-field communication (NFC) technology and flash memory to digitally store information from up to 20 credit and debit cards all in one place.

Plastc's owners can swipe through each of their stored cards on the interface, and select their preferred card when they want to make a purchase. CNET reports that Plastc will also support Google Wallet, Apple Pay, PayPal and other payment options.

The card, which will be available for iOS and Androids next year, resembles a typical charge card, but features an e-ink touchscreen that unlocks with PIN activation, and requires smart phone syncing.

Even though storing all of your credit card data on a single Plastc card may seem risky if it were lost or stolen, the company vows that safety comes first. It employs facial authentication technology, which verifies the card owner and delivers a transaction alert to phones when a purchase is made. Proximity alerts warn card owners when their card is left behind, and people who lose the card entirely can wipe the card data remotely from their smartphone so no one else can use it.

While the idea of combining of multiple credit, debit, and gift cards into one secure package may be an enticing tech novelty, the card comes at a price: $155 to preorder. It will not start shipping until summer 2015. It also operates on a rechargeable battery with a 30-day charge.

A similar, competing digital card called Coin is also expected to enter the market next year, CNET reports.

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